Octant assists its clients by recommending the appropriate credit facility for each Member Business Loan. Whether it is a term loan for the purchase of equipment or the refinance of commercial real estate, Octant will identify, underwrite and recommend a loan structure that best protects the credit union and fullfills the borrowing requirements of its members.
Commercial Real Estate
- Investment Property (Residential and Commercial)
- Owner Occupied
- New construction or major renovation of commercial or residential real estate.
- Purchase of equipment, vehicles, business acquisition, debt consolidation
Secured Lines of Credit
- Working capital to businesses that experience fluctuations in cash flow due to the seasonality of their business or to bridge the financial gap between product sales and payment.
Government Loan Programs
SBA The 504 Program – provides long-term fixed rate financing for the acquisition of real estate or machinery and equipment. Lender loans 50% of project cost while a Certified Development Company (CDC) lends up to 40% with the borrower contributing as little as 10% of project cost.
7(a) Program – Loan proceeds used for working capital, machinery and equipment, furniture and fixtures, land and building and leasehold improvements. Provides lender with up to an 85% guaranty.
Express Program – A low document government program that provides a 50% guaranty for loan amounts up to $350,000.
USDA Business & Industry Program – Provides up to an 80% guaranty to lenders on rural business loans. Loan amounts usually begin at $750,000 and range to $10,000,000.
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